Concentric Capital Strategies LP Reduces Position in monday.com Ltd. (NASDAQ:MNDY)

Concentric Capital Strategies LP trimmed its position in monday.com Ltd. (NASDAQ:MNDY) by 79.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,685 shares of the company’s stock after selling 10,089 shares during the period. Concentric Capital Strategies LP’s holdings in monday.com were worth $746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MNDY. Mercer Global Advisors Inc. ADV increased its position in shares of monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after acquiring an additional 47 shares during the period. Crossmark Global Holdings Inc. increased its holdings in monday.com by 4.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock valued at $314,000 after purchasing an additional 50 shares during the period. Avior Wealth Management LLC raised its position in monday.com by 2.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares during the last quarter. FDx Advisors Inc. lifted its holdings in monday.com by 4.7% in the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock worth $482,000 after buying an additional 90 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of monday.com by 4.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after buying an additional 91 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MNDY has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Oppenheimer raised their target price on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Performance

NASDAQ:MNDY opened at $280.80 on Wednesday. The firm has a market cap of $13.56 billion, a P/E ratio of 684.88, a P/E/G ratio of 7.65 and a beta of 1.25. monday.com Ltd. has a fifty-two week low of $170.00 and a fifty-two week high of $324.99. The firm has a 50-day simple moving average of $284.29 and a two-hundred day simple moving average of $255.57.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. On average, equities research analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

monday.com Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.